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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 34,236 $ 62,576
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,055 488
Amortization on right-of-use asset 458 423
Stock-based compensation 7,031 3,719
Realized gain of marketable securities (1,706) 0
Amortization premium and discount of marketable securities, net 3,701 0
Change in fair value of derivatives (620) (1,725)
Change in fair value of common stock warrants liability (27,438) (15,610)
Change in fair value of earnout liability (39,137) (63,561)
Change in fair value of incremental acquisition fee accrual 0 (35)
Changes in operating assets and liabilities:    
Receivables (8,130) (926)
Inventory (821) 0
Prepaid expenses and other current assets (2,703) (1,464)
Other long-term assets (17,954) (5,019)
Accounts payable 2,819 5,195
Accrued expenses 1,707 4,380
Operating lease liability (529) (338)
Deferred income 1,374 0
Other liabilities, current 2,846 2,214
Other liabilities, long-term (2,636) 221
Net cash used in operating activities (46,447) (9,462)
Cash flows from investing activities    
Purchases of property, plant, and equipment, net of grants (90,113) (57,825)
Purchases of marketable securities (3,092,218) (2,584,027)
Sales of marketable securities 3,057,700 2,587,649
Maturities of marketable securities 129,081 124,319
Capitalized interest on plant construction 0 (133)
Net cash provided by investing activities 4,450 69,983
Cash flows from financing activities    
Proceeds from exercise of stock options 145 371
Net cash provided by financing activities 145 371
Effects of foreign exchange rate changes on the balance of cash and cash equivalents, and restricted cash held in foreign currencies (390) (4,549)
Net (decrease) increase in cash and cash equivalents, and restricted cash (42,242) 56,343
Cash and cash equivalents, and restricted cash, beginning of the period 108,348 47,127
Cash and cash equivalents, and restricted cash, end of the period 66,106 103,470
Supplemental disclosure for non-cash transactions    
Operating lease right-of-use asset obtained in exchange for lease obligations 2,302 1,710
Stock-based compensation capitalized into property, plant, and equipment 2,048 697
Purchases of property, plant, and equipment included in accounts payable and accrued expenses and capitalized interest 6,182 0
Cash paid during the period:    
Income taxes payment $ 129 $ 0